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Interpublic Decapitated after Warning of Financial Controls Issues

Days after announcing it will fail to meet the deadline for reporting its financial figures for the last quarter in 2004, Interpublic CEOs are jumping ship, according to AdWeek. Yesterday, Initiative's CEO of European and Asian operations Marie-Jose Forissier skedaddled, a day after worldwide CEO Robin Kent said he was out the door. Interpublic last faced major accounting issues at the end of 2002, having owned up to committing the most pedestrian of agency shenanigans: improperly accounting for a spate of mergers that allowed the company to show better results for a time. In other news, Omnicom has gone more than 32 months since it faced allegations of similar behavior. More notably, WPP has gone 31 months since shrugging off like concerns.

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